Negative Rates Push Japan Banks Toward February's Nadir: ChartBy
Japanese banks tumbled on Monday, and are trading close to the cheapest on record amid speculation that the central bank will take interest rates further below zero to combat a stronger yen. Members of the Topix Banks Index are trading at about 0.44 times the book value of their assets, close to 0.4323 reached on Feb. 12, which was the lowest since at least 1993, according to data compiled by Bloomberg. Banks are the worst performers on the benchmark Topix this year as negative rates threaten to squeeze loan profitability.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Smartphones Are Killing Americans, But Nobody’s Counting
- Why a Pub in the Middle of Nowhere Was Named the World’s Best Restaurant
- Ford to Take $267 Million Hit From Recall of F-Series Trucks
- Gulf Coast Oil Spill May Be Largest Since 2010 BP Disaster
- Racist Outburst Prompts Faber’s Exit From Three Company Boards